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EUR/USD technical analysis: Euro under pressure near 2019 lows as Draghi is speaking

  • EUR/USD is taking a dive as the European Central Bank’s (ECB) cut interest rates by 0.1% and announces Quantitative Easing (QE). 
  • Draghi is now speaking about the stimulus package. 
  • The level to beat for sellers is the 2019 low at 1.0926 price level.
 

EUR/USD daily chart

 
On the daily time-frame, the shared currency is trading in a bear trend below its main daily simple moving averages (DSMAs). The European Central Bank’s (ECB) has slashed interest rates by only 0.1% but announces QE, EUR/USD leaps then crashes.
 

EUR/USD four-hour chart

 
The Euro is under bearish pressure below its main SMAs as the market is at a stone’s throw from the 2019 low at 1.0926. If the bears break below this level the next level to watch become 1.0888, according to the Technical Confluences Indicator. 
  
  

EUR/USD 30-minute chart

 
The market is spiking down as ECB’s Draghi is speaking. Immediate resistances are seen at 1.0968, 1.0991 and 1.1030 price levels. 

Additional key levels

 

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